What is the KYC Profile and how to pass it?
What is KYC?
KYC (Know Your Customer) Profile - is a page in your Joom account displaying your up to date company info, including:
- information about the company itself;
- information about the company director or legal representative;
- information about the company UBO (Ultimate Beneficial Owner).
Joom will only work with legal entities.
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According to the Terms of Service 1.4, a merchant must represent a legal entity or individual entrepreneur. That means that Joom works only with the certified legal entity and not with a person/team. All legal entities must pass the KYC profile. |
Where to Find the KYC Profile?
You, as a merchant, need to provide your company information for the KYC profile:
- Open the KYC Profile page in your Joom account;
- Fill out all the information (obligatory fields are marked with *);
- Click on the Send for Review.
⚠️ PLEASE NOTE: The Profile review may take up to one week. If any informational change occurred to your company, please inform Joom and update the related information as early as possible.
Click here to see the KYC review statuses
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Action Required |
Fill in all the fields and complete the profile. |
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On Review |
Your Profile is sent for review. Please, wait for the results. |
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Profile Reviewed |
Your KYC Profile was approved by Joom. |
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KYC Passed |
Your Profile passed our full KYC review. |
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KYC Not Passed |
Review failed. Please, fix all the errors. |
For example:
The KYC profile page will show the review status and give specific hints.
What are the requirements for passing the KYC procedure?
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Company |
The company in the KYC profile should be the one receiving money from Joom |
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Up-to-date information |
Please provide the latest up-to-date information about your company. |
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UBOs (optional) |
UBO is the Ultimate Beneficial Owner of the company, the person or entity who holds 25% or more of share capital.
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Photos of documents |
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⚠️ PLEASE NOTE:
- Joom checks that the money is paid to the legal entity declared in the KYC Profile.
- If you receive money via Payoneer, please ensure that the business license number specified in your KYC Profile is the same as in your Payoneer account. Otherwise, the money cannot be successfully transferred. For more information about Joom payment, please refer to the article Payment on Joom.
- The rules on KYC and requirements for merchants may be revised and updated by Joom unilaterally from time to time. In case of the absence of any required information or failure to provide any required documents or information, Joom can suspend payments to the Merchant until the required information and documents are provided.
Specific cases, e.g. company liquidation
If something happens to your company, you must inform Joom while it's still functioning and existing as a legal entity. That way, we can avoid problems with receiving the invoices.
For example, if your company is being shut down, you can no longer be a Joom seller. A non-existent company cannot receive any payments from Joom.
⚠️ PLEASE NOTE: Such cases are resolved individually after the merchant contacts Joom directly.
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